The NFL is on the eve of unleashing a new year (YEAH!) and it begins by setting the budget for every NFL team, which is $120.6 million.

Dolphins GM Jeff Ireland has a budget of $14 million to work with in 2012.

That’s a $225,000 increase per team from 2011.

However, each team can borrow $5 million from future funds within a two year period to increase their spending limit. BUT, they can only take $3 million the first season, and $2 million the next.

The Miami Dolphins used the $3 million allowance in 2011, and will likely use the remaining $2 million this year.

Every NFL team can also apply to have their unused salary cap space carried over into the next year. The Dolphins have requested to do so, and will carry over $4,142,190 into this season.

That figure was larger but the Dolphins had a $4.8 million adjustment levied against them (I’m ASSUMING that is bonuses paid to players for Pro Bowl appearances, incentives reached, and playing time incentives).

The bottom line is the Dolphins have approximately: $11,816,017 to spent BEFORE borrowing another $2 million. That brings us to an estimated budget of $13.8 millionthe Dolphins have to use before restructuring contracts, or cutting players.

Here’s some answers to frequently asked question the league provided.

Q. When does the 2012 free agency signing period begin?

A. At 4:00 PM ET on Tuesday, March 13.

Q. What are the categories of free agency?

A. Players are either “restricted” or “unrestricted” free agents. Within the categories are also “franchise” and “transition” players.

Q. What is the time period for free agency signings this year?

A. For restricted free agents, from March 13 to April 20. For unrestricted free agents who have received the June 1 tender from their prior Club, from March 13 to July 22 (or the first scheduled day of the first NFL training camp, whichever is later). For franchise players, from March 13 until the Tuesday following the 10th week of the regular season, November 13. If a franchise player does not sign by November 13, he must sit out the season. There are no transition player designations this year.

Q. What is the difference between a restricted free agent and an unrestricted free agent?

A. In the 2012 League Year, players with three accrued seasons become restricted free agents when their contracts expire. Unrestricted free agents have completed four or more accrued seasons. An unrestricted free agent is free to sign with any club with no draft choice compensation owed to his old club.

Q. What constitutes an “accrued season”?

A. Six or more regular-season games on a club’s active/inactive, reserved/ injured or reserve/physically unable to perform lists.

Q. Other than accrued seasons, what determines a restricted free agent?

A. He has received a “qualifying offer” (a salary tender predetermined by the Collective Bargaining Agreement between the league and its players) from his old club. He can negotiate with any club through April 20. If the restricted free agent signs an offer sheet with a new club, his old club can match the offer and retain him because it has a “right of first refusal.” If the old club does not match the offer, it may receive draft choice compensation depending on the amount of its qualifying offer. If an offer sheet is not executed on or before April 20, the player’s negotiating rights revert exclusively to his old club.

Q. What determines an unrestricted free agent?

A. A player with four or more accrued seasons whose contract has expired. He is free to sign with any club, with no draft choice compensation owed to his old club, through July 22 (or the first scheduled day of the first NFL training camp, whichever is later). At that point, his negotiating rights revert exclusively to his old club if by June 1 the old club tendered the player a one-year contract for 110 percent of his prior year’s salary. His old club then has until the Tuesday following the 10th week of the regular season (November 13) to sign him. If he does not sign by that date, he must sit out the season. If no tender is offered by June 1, the player can be signed by any club at any time throughout the season.

Q. What determines a franchise player?

A. The salary offer by a player’s club determines what type of franchise player he is: exclusive or non-exclusive.

An “exclusive” franchise player – not free to sign with another club – is offered the greater of (i) the average of the top five salaries at the player’s position for the current year as of the end of the Restricted Free Agent Signing Period on April 20; or (ii) the amount of the Required Tender for a non exclusive franchise player, as explained below.

The methodology for calculating the Required Tender for a non exclusive franchise player has changed. Formerly, such players were tendered a one year NFL Player Contract for the average of the five largest Prior Year Salaries for players at the position at which the Franchise Player played the most games during the prior League Year, or 120% of his Prior Year Salary, whichever is greater.

Article 10, Section 2(a)(i) of the CBA sets forth the new methodology, known as the “Cap Percentage Average,” for calculating the Required Tender for such a player:

The Nonexclusive Franchise Tender shall be a one year NFL Player Contract for (A) the average of the five largest Prior Year Salaries for players at the position . . . at which the Franchise Player participated in the most plays [formerly, “games”] during the prior League Year, which average shall be calculated by: (1) summing the amounts of the Franchise Tags for players at that position for the five preceding League Years; (2) dividing the resulting amount by the sum of the Salary Caps for the five preceding League Years . . . ; and (3) multiplying the resulting percentage by the Salary Cap for the upcoming League Year . . . (the “Cap Percentage Average”) . . . ; or (B) 120% of his Prior Year Salary, whichever is greater . . . .

If a club extends a Required Tender to a non exclusive franchise player pursuant to this section, the player shall be permitted to negotiate a player contract with any club, except that draft choice compensation of two first-round draft selections shall be made in the event he signs with a new club.

Q. How many franchise and transition players can a team designate each season?

A. A club can designate one “franchise” player or one “transition” player among its potential free agents.

Q. Can a club decide to withdraw its franchise or transition designations on a player?

A. Yes. A club can withdraw its franchise or transition designation and the player then automatically becomes an unrestricted free agent, either immediately or when his contract expires.

Q. After withdrawing the designation, can a club then designate another player?

A. Not in the 2012 season.

Q. When do teams have to be in compliance with that number and be under the cap?

A. At the start of the 2012 League Year, which begins at 4:00 p.m. ET on March 13.

Q. If a team is under the salary cap at the end of a given season, can the team carry over room to the next season?

A. Yes. A team may “carry over” room from one League Year to the following League Year by submitting notice to the NFL prior to 4:00 p.m. ET on the day before the team’s final regular-season game indicating the maximum amount of room that the club wishes to carry over.

1. A new head coach with every intention of implementing his WCO.
2. An OL that yields more sacks in a month than he’s used to for a season.
3. Playing in the AFC East and facing the Jets and Patriots twice a year.
4. Not enough Cap Space or intention to sign his Peyton’s Posse (Wayne, Clark, Saturday, Addai, et. al.) and add defensive FAs.
5. Miami Media; He’s a big fish in a small pond.

With Pouha off the market, Miami’s Paul Soliai well positioned on the interior DL front. Jason Jones (TEN) gonna do well, too #freeagency
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Yeah, as if Big Paul wasn’t already gone, this ensures as much. The market for NT has been set and Big Paul is gon’ get PAID.

Mike Greenberg this morning suggested that if Manning were to go to Denver(NOT), the broncos should trade Tebow to Jacksonville for Gabbert.
That way Jacksonville would sell out every game because of Tebow’s Jesus-like draw…This guy is such a dumbazz!!!
Would they be buying tix if they were losing? In Jax, where they don’t show up when they win?! Too funny. And Jax is just going to give up a good, not great, prospect for Timmy? Greenberg is the worst!
He followed that up by saying that his jesters needed to extend Sam Cheezy
to quiet the locker room about his lack of talent.
I don’t know how Golic does it….patience of Job i guess…

Pffffft what happened to 15 million under the cap. Why havent the dolphins reworked any contracts yet to have more money for free agency???? If they were serious about manning they would be ready to roll but 13.8 million peyton would laugh at that amount….. I also dont think flynn is a premier qb and dont want to spend 10 mill on him either. Trade our pick to seattle for the 12th pick and a 3rd round pick. Draft cousins and work from there…

OMAR KELLY was unsuccessful at achieving his childhood dream to become a super hero, so he figured he'd do the next best thing and become a journalist who fights against injustice, and searches for truth. After being bored to death reporting news and covering politics, he switched to sports.
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IZZY GOULD joined the Sun Sentinel in Feb. 2012 as a Senior Sports Reporter on the Miami Dolphins beat. He came to South Florida fresh off covering the University of Alabama football program, including its 2011 national championship team. More